Tax Evasion Lawyers in Waterford
Tax evasion is a crime in Wisconsin. Tax evasion involves deliberately failing to pay one's taxes.
One of the most common frequent tactics of tax evaders in Waterford, Wisconsin is to attempt to make it appear to an outside observer that their tax liability is lower than it really is, such as by concealing income, fraudulently transferring property, and others.
You should not confuse "tax evasion" with "tax avoidance." Tax evasion is illegal, and involves deliberately failing to pay one's taxes which they lawfully owe. Tax avoidance, on the other hand, is legal, and involves using legal strategies to lower one's legal tax liability. For example, strategically using deductions and tax credits to lower the amount of money you are legally obliged to pay, is an example of tax avoidance, assuming you actually pay your tax bill, whatever it ends up being.
Penalties for Tax Evasion in Waterford, Wisconsin
Under the laws of Wisconsin, as well as federal law, tax evasion is a very serious criminal offense.
In Waterford, the punishments for tax evasion can range from a court order to pay back taxes, plus a small fine, and range all the way up to fines in the tens (or hundreds) of thousands of dollars, and imprisonment.
In the majority of tax evasion cases, however, the punishments are not so severe. This is especially likely in first offenses, when the amount of money involved is fairly small. Minor punishments for tax evasion usually mean a small fine, on top of an order to pay whatever taxes the taxpayer owes. A minor punishment is most likely when the government has trouble proving that fraud was involved, as opposed to an honest accounting error.
However, if it can be clearly proven that a person or corporation in Waterford, Wisconsin deliberately attempted to hide income or assets for the purpose of getting out of taxes, a court will probably throw the book at them, so to speak. This can mean jail sentences measured in years, and fines in the six or seven figures.
A Waterford, Wisconsin Tax Evasion Lawyer Can Help
Attorneys in Waterford, Wisconsin who practice tax law can help you stay in compliance with your tax obligations. This is a good way to ensure that you won't be suspected of tax evasion in the first place.
In the unfortunate event that you're really charged with tax evasion, it's imperative that you hire a reliable tax attorney in Waterford, Wisconsin. If you are actually innocent, your tax attorney can help make sure that you have the best chance you can of being found not guilty.